However, Magath insists that he is only focusing on keeping the Cottagers in the top flight this season.
"At the moment I don't care about the contract situation because we are fighting against relegation," the German told the Fulham & Hammersmith Chronicle.
"It's different whether you play in the Premier League or the Championship. It's not the time to talk about contracts."
Fulham are currently four points adrift of safety at the bottom of the table with seven games left to play.